Retail took a beating last week: Kohl's, JC Penney and Nordstrom reported sales declines, while Ascena Retail Group announced the shuttering of its 650-unit Dress Barn chain. And more bad news is yet to come. A group of 170 shoe companies last week urged President Trump to reconsider a proposal that would add a 25 percent tariff on shoes from China. "We can assure you that any increase in the cost of importing shoes has a direct impact on the American footwear consumer," the letter read. That consumer is already feeling the tighter laces, evidenced by recent reports. Specialty brands catering to the middle-class consumer in particular are getting squeezed. As of mid-May, the announced retail closures in the U.S. already surpassed the 2018 total, according to Coresight Research, which ...

Adani Groups solar manufacturing arm Adani Solar is expecting to get 50 per cent marketshare in two years, a top company official said Saturday. As 80 per cent of solar panels available in the country were made in China, the company was manufacturing module and panels, which were cheaper and durable, for Indian markets, general manager(business development) of Adani Solar Cecil Augustine told reporters here. With a marketshare of 10 per cent and expected growth, the company was sure to capture 50 per cent marketshare in another two years, Augustine said. The company official was here to announce the launch of its retail distribution business in Tamil Nadu with K Powers Solar, an exclusive channel partner for the region. In a span of three months, Adani Solar has expanded the retail distribution of its solar panels in seven regions, helping over 500 cities across the country meet their renewable energy requirement, he said. The partnership with K Powers is a stride ...

At least eight people were killed in a carbon dioxide leak on a cargo ship in an eastern Chinese port on Saturday, officials said. The incident happened at around 4:00 pm at Longyan port in Rongcheng city, Shandong Province, the local authority said. The cause of the leak is under investigation, state-run China Daily reported.